HF 347 (LSB 1951YH (6) 88)

HOUSE FILE 347

BY  ZUMBACH, KAUFMANN, PAUSTIAN, SIECK, KLEIN, MAXWELL, SHIPLEY, McKEAN, MOMMSEN, STAED, McCONKEY, JENEARY, GERHOLD, BLOOMINGDALE, MOHR, MOORE, LUNDGREN, RUNNING-MARQUARDT, EHLERT, and THORUP

A BILL FOR

An Act relating to the recovery of costs and certain payment disclosures associated with the closure of electric power generating facilities.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 476.6, Code 2019, is amended by adding the following new subsection:
   NEW SUBSECTION.  22.  Closure of electric power generating facilities —— recovery of costs —— payment disclosures.  A rate-regulated electric utility shall not, upon the closure of an electric power generating facility, recover costs associated with the closure of the facility from its customers or include such costs in customer rates or charges. The electric utility shall recover costs associated with the closure of an electric power generating facility from the shareholders of the electric utility. The electric utility shall disclose information regarding any payments received by the utility in connection with the closure of an electric power generating facility to the board, and the board shall make such information available to the public.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill prohibits a rate-regulated electric utility from recovering costs associated with the closure of an electric power generating facility from the electric utility’s customers, or include such costs in customer rates or charges. The bill provides that the electric utility shall recover such costs from its shareholders. The bill requires electric utilities to disclose information regarding any payments received by the utility in connection with the closure of a facility to the Iowa utilities board, which the board shall make available to the public.